Company approaches $100M in revenue with 40 percent annual growth
HOUSTON, Jan. 27, 2016 /PRNewswire/ -- Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service solutions for the cloud, today announced that 2015 marked another year of record results. The company recorded $81 million in GAAP revenues for the fiscal year ending December 31, 2015, representing 40 percent growth over 2014. Alert Logic's total recurring revenue under contract in the month of December exceeded a $98 million annualized run-rate, and the company now has more than 3,600 customers using its Security-as-a-Service solutions to protect their IT infrastructure running in any data center environment, including public cloud, hosting and on-premises data centers.
"We are proud to announce another 40 percent growth year and we're excited about our accelerating growth rate among customers of leading cloud platforms such as Amazon Web Services," said Gray Hall, CEO of Alert Logic. "In 2015, businesses running deployments on public cloud platforms accounted for more than one-third of new sales. With such a significant number of businesses committing to public cloud or hybrid data center strategies, we remain focused on delivering cloud-native, Security-as-a-Service solutions with the flexibility to support all data center environments."
Alert Logic's notable highlights for Q4 2015 include:
- Research Milestones: Alert Logic announced the availability of its 2015 Fall Cloud Security Report. In the report, Alert Logic employed ActiveAnalytics, its big data security analytics engine, to analyze more than one billion events in the IT environments of its customers to identify more than 800,000 security incidents. These represent all deployment models – on premises, in the cloud and hosted, and an array of market segments and industries.
- Recognition: Alert Logic was nominated as a finalist in two categories in SC Magazine's 2016 SC Awards: Best Web Application Solution and Best Managed Cloud Service. Additionally, Government Technology Magazine ranked Alert Logic's presentation of its top cybersecurity predictions for 2016 in the top 10 vendor presentations, based in part on its prediction that 2016 will be the first year cloud computing is selected over on-premises deployment models for security.
- Board of Directors Update: Steve Munford was named as a member of the Alert Logic Board of Directors. Mr. Munford served as Sophos' CEO from 2006-2012 overseeing Sophos' growth into an industry leader with billings of $400 million. Prior to his role as CEO, he served as President of Sophos for North America and then Chief Operating Officer. Mr. Munford sits on various boards and acts as an advisor to a number of companies in the cloud computing and security technology industries including Sophos, Carbonite, Teradici, Elastic Path, Quick Mobile and Utimaco.
A privately held company, Alert Logic publicly reports its Generally Accepted Accounting Principles (GAAP) revenue results and growth rates quarterly, in addition to its annualized recurring revenue under contract. Alert Logic's financial statements have been audited in accordance with GAAP since 2005. Alert Logic revenue is derived through long-term subscription contracts, consistent with the company's SaaS business model. Alert Logic's solutions are sold directly to enterprise customers and through a diversified channel of resellers and cloud service provider partners.
About Alert Logic
Alert Logic, the leader in security and compliance solutions for the cloud, provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Fully managed by a team of experts, the Alert Logic Security-as-a-Service solution provides network, system and web application protection immediately, wherever your IT infrastructure resides. Alert Logic partners with the leading cloud platforms and hosting providers to protect over 3,600 organizations worldwide. Built for cloud scale, our patented platform stores petabytes of data, analyses over 400 million events and identifies over 50,000 security incidents each month, which are managed by our 24x7 Security Operations Center. Alert Logic, founded in 2002, is headquartered in Houston, Texas, with offices in Seattle, Dallas, Cardiff, Belfast and London. For more information, please visit www.alertlogic.com.
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